International News

  Bloomberg India has taken a step towards allowing leading foreign universities such as Yale, Oxford and Stanford to set up campuses and award degrees as part of an overhaul of the South Asian nation’s higher education. Regulator the University Grants Commission unveiled a draft legislation for public feedback that seeks to facilitate entry and operation of overseas institutions in ...

  Bloomberg After three long years, checkpoints at the border separating Hong Kong from mainland China are set to reopen from Sunday in a move that’s seen as having a muted impact on the city initially. Businesses in the city face a number of challenges, which partly stem from the lengthy closure. Wealthy mainland Chinese took their business to Singapore, ...

  Bloomberg China may impose a nationwide cap on real estate commissions to boost demand in the flagging property market and regulate brokerage fee collection, according to people familiar with the situation. Authorities are considering a range of 2% to 2.5% of the sale price as a guide, one of the people said, asking not to be identified discussing a ...

Bloomberg Tesla Inc shares are poised to extend their slump after the carmaker made another round of price cuts in China’s increasingly competitive electric vehicle (EV) market. The starting price for Tesla’s locally built Model Y sport utility vehicle has dropped to a new low of 259,900 yuan ($37,875) from 288,900 yuan, according to the company’s China website. That standard-range, ...

  Bloomberg Salesforce Inc division Tableau was hit harder than other units in the company’s largest-ever round of jobs cuts, adding to a major reorganisation that signals the $15.7 billion acquisition hasn’t lived up to expectations. Chief Executive Officer Mark Nelson was ousted from the data analytics division in late December and more senior staff were axed as part of ...

Bloomberg Germany’s biggest services union kicked off wage negotiations with Deutsche Post AG pushing for 15% higher pay for about 160,000 postal workers, a demand the company has turned down as “unrealistic.” The Verdi union reiterated the stipulations first put forward in November before the collective bargaining talks got under way, including a €200 a month bump-up for trainees. The ...

Bloomberg UK house prices are on track to drop 8% this year after declining for four months in a row, one of the nation’s biggest mortgage lenders said. Halifax said its measure of property prices fell 1.5% last month after a 2.4% decline in November. The figures are similar to a reading from Nationwide Building Society, which last week reported ...

  Bloomberg GSK Plc and CureVac NV are planning further patient trials of their messenger RNA vaccines for flu and Covid-19 after promising early results, though the partners still lag behind rivals in the race to expand use of mRNA technology. The partners’ second-generation vaccine candidates showed promising abilities to spur the immune system in early-stage trials, CureVac said. The ...

Bloomberg Euro-area inflation returned to single digits for the first time since August, fuelling hopes that the bloc’s worst-ever spike in consumer prices has peaked. December’s reading came in at 9.2%, Eurostat said, with slower growth in energy costs the only reason for the moderation. The figure reflects slowdowns in Germany, France, Italy and Spain and was less than the ...

Bloomberg Deliveries from Tesla Inc’s Shanghai factory slumped in December after a record November as production was temporarily suspended due to equipment upgrades and lackluster consumer demand. The Texas-based company shipped just 55,796 China-made vehicles last month, almost half the month prior, according to preliminary data released by China’s Passenger Car Association (PCA) on Thursday. The PCA didn’t provide a ...